Marine link
 

Lng Prices

Russia Could Fend off US LNG Plans for Europe

By Oleg Vukmanovic and Henning Gloystein, Reuters As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to swamp European natural gas markets with supply while depressing prices will make it difficult for as-yet unavailable U.S. supplies to displace Russian gas in Europe. The EU is keen to diversify away from Russian gas imports, a stance hardened by Gazprom's decision to switch off supply to Ukraine during a pricing dispute in 2009 which curtailed supplies to EU member states, as well. Yet U.S. LNG, exports of which are expected to ramp up beginning next year, are not a silver bullet in supply diversification for Europe. State-controlled Gazprom sells most of its gas to Europe in long-term deals that are partly linked to the price of oil. It has recently agreed major price reductions with most of its European customers, including Germany's E.ON and RWE, France's GDF Suez and Italy's ENI and Edison. The move has helped defend its leading position in Europe, including from potential U.S. shipments, and industry sources say that Russia may agree to further discounts. U.S. exports to Europe would barely break even at current spot market prices, as operating costs, fees and shipping rates would push the price of U.S. cargoes above European spot levels.


Classification Leaders Weigh in on Marine Propulsion

James Watson, President & COO, Americas Division, ABS

When talk turns to marine propulsion and the host of surrounding topics – emissions, efficiency, fuel consumption – we turn to class for answers. While there are just two questions, the ensuing answers from leaders at ABS, BV, ClassNK, DNV GL, LR and RINA are voluminous & enlightening.   • Paal Johansen, DNV GL    The stricter environmental regulations and rising fuel costs lead to technology development in design, size, propulsion and operations


LNG Spot Prices Drop; Demand Dips from Brazil, Japan

By Oleg Vukmanovic and Jacob Gronholt-Pedersen,  Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built


Teekay to Acquire Up to Two LNG Carriers

Teekay LNG Partners L.P. announced that it has agreed to acquire a 155,900 cubic meter (cbm) liquefied natural gas (LNG) carrier newbuilding from Awilco LNG ASA, a Norwegian-based owner and operator of LNG carriers. The vessel, which is currently under construction by Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea, is expected to deliver in the third quarter of 2013, and subsequent to delivery from DSME to Awilco


LNG Sabine Pass Terminal Contract Signed

Sabine Pass Terminal: Image credit Cheniere Partners

Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America. Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).


Korea's Daewoo To Grab Hold of LNG Ship Market

Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300


EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea


LNG Gains Traction as Alternative Fuel

Triality VLCC illustration_web.tif

As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry.   •    In the Beginning         The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces


Cove Point LNG Export Facility Gets US FERC Approval

 U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission


MOL, Mitsui in Cameron LNG Transport Deal

LNG carrier in terminal: File photo

Mitsui O.S.K. Lines, Ltd. (MOL) apprise that a contract has been signed with Mitsui & Co., Ltd. to charter two new 155,000m3 LNG carriers that will transport shale gas-derived liquefied natural gas (LNG) from the United States. MOL will manage the new vessels


Gas Natural Extends Charter Period for LNG Libra

  In the stock exchange notice dated 13 November 2013 Höegh LNG Holdings Ltd. informed that LNG Libra, a 126,000 cubic meter LNG carrier, was chartered to Gas Natural until year-end 2014. Gas Natural has today exercised its option to extend the charter period for further 12 months with


New Success for Europe in Cleaner Inland Navigation

a new type of inland navigation vessel Sirocco. Owned by Chemgas Barging

  The increasing use of LNG (Liquefied Natural Gas) as a fuel was given another boost with today’s commissioning of a new type of inland navigation vessel: Sirocco. Owned by Chemgas Barging, this conventional gas tanker is equipped with a main engine capable of running on marine gas


New Sulphur Rules Force Changes at Stena Line

The new sulphur directive for shipping traffic within the North European SECA area, which comes into force on January 1, 2015, is good for the environment but has a significant economic impact on Stena Line's business.   The whole of the change program that begun in 2013


Tankship, Gas Carrier, Containership Newbuilds: Latest Orders

Ships bow: File photo

Reported business this week has been focussed on the tanker, container and gas markets, says Clarkson Hellas in their latest S&P Weekly Bulletin. Tankships Whilst under discussion for some months, Knutsen NYK Offshore Tankers have now signed two firm plus two optional 160


LNG Ltd Takes Paul Cavicchi On-board

LNG Ltd Takes Paul Cavicchi On-board

  Liquefied Natural Gas Limited has appointed Paul J. Cavicchi as a Non-Executive Director of the Company with effect from 1 October 2014.  Based in Houston, Paul brings over 25 years leadership experience in the international energy industry across a range of gas nd power projects


DNV GL Supports Call to Put a Price on Carbon

Bjørn Kj. Haugland, DNV GL Chief Sustainability Officer, here with Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), and Erik Rasmussen, CEO of Monday Morning Gl

  DNV GL joins global push to put a price on carbon. Over 1,000 companies and 73 countries now support a price on carbon to start bringing down emissions. Speaking on the sidelines at the UN Climate Summit in New York, DNV GL Group Sustainability Officer Bjørn K


Russian Class & Arctic Operations

LNGC Velikiy Novgorod under construction.

When it comes to Arctic operations, the Russians arguably have more hands-on experience and investment than any other nation. With that in mind, Maritime Reporter spoke recently with Georgiy Bedrik, Head of the RS Business Development Division, for his input on RS and matters of the Arctic


Savvy Fuel Management Fuels TOTE’s Growth

TOTE Vessel.jpg

As Tote pioneers the use of natural gas as a marine fuel with two groundbreaking projects, Anthony Chiarello combines the strength and diversity of the Saltchuk group of companies with a forward-thinking, environmentally correct Tote business plan.


Dynagas Partners Announces LNG Carrier Acquisition

Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor, 100% of the ownership interests in the entity that owns and operates the Yenisei River


Bestobell to Extend Valve Choice to Customers

project flange.jpg

Bestobell Marine, part of the President Engineering Group Ltd, has innovated within its range, which means it can now offer both butt weld and flanged connections for all its Globe and Check valves.   These valves range from small (DN15) to large (DN350)


BP, Pavilion Ink Long-Term LNG Deals

Pavilion to buy 0.4 mln tpy LNG from BP for 20 years. Aims to become a global LNG firm in medium to long term. Working with SGX, regional govts on LNG price marker. Singapore's Pavilion Energy said it had signed two long-term contracts to buy liquefied natural gas (LNG) for trading and supply


Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib). The LNG will be delivered to Puerto Rico. This is the first delivery of LNG for industrial customers in


Sir Frank Chapman Appointed Golar's Chairman

BG Group veteran Chapman joins Golar LNG as chairman

Golar LNG Limited announced that with effect from September 19, 2014, Sir Frank Joseph Chapman has been appointed to the Board of Directors of the Company and will act as the Company's Chairman.   Sir Frank Chapman has worked 40 years in the oil and gas industry culminating in a twelve-year






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright